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> The term recession has been well-defined in economics for decades. It's been so thoroughly defined, that there are even multiple conflicting definitions.
by ls15 4y ago
> The term recession has been well-defined in economics for decades.
It's been so thoroughly defined, that there are even multiple conflicting definitions.
- david927 4y agoWhich is all to avoid having to admit you're in a recession to avoid the self-fulfilling prophecy aspects of that. Economists, of course, have a lot of pressure sometimes to avoid speaking the truth, lest they exacerbate the situation. I get that. Again, I'm not concerned that we're "going into a recession." I'm concerned that we're going into a depression, or decades of stagflation, or war.